By: Chung Jung-feng and Frances Huang
Taipei, Feb. 12 (CNA) Shareholders of Advanced Semiconductor Engineering Inc. (ASE) and Siliconware Precision Industries Co. (SPIL), the top two integrated circuit packaging and testing services providers in Taiwan, have approved a merger deal between the two companies.
ASE and SPIL held extraordinary shareholder meetings Monday for shareholders to vote on the merger proposal, in which the two will set up a holding company to bring the two IC firms under one corporate umbrella.
In May 2016, ASE and SPIL announced that they planned to form a holding company that will own 100 percent stakes in both of the two companies, and that the two will remain independent from each other, although their operations will continue under the same roof of the holding company.
Under the deal, ASE will use one common share in exchange for 0.5 shares of the new company, while shareholders of SPIL will receive NT$51.2 (US$1.79) in cash per share for the stakes they hold from ASE. [FULL STORY]